Thermax, an Indian energy and environment engineering company, announced that it has received an order from an African conglomerate to supply a captive power project for one of their cement plants. The order valued at approximately Rs 3.21 billion was won against stiff global competition.

The scope of work includes design, manufacture, supply and supervision of erection and commissioning of the plant.

''We had initiated the entry of our project business in Africa two years ago. It is encouraging that we have already gained customer trust and begun supporting their power requirements,'' says M S Unnikrishnan, MD and CEO of Thermax.

Shares of the company declined Rs 15.5, or 1.73%, to settle at Rs 881.20. The total volume of shares traded was 1,693 at the BSE (Thursday).